At the same time, globalization, social responsibility, and technology have also generated a new set of capabilities to help companies cope and respond
Companies can use the Internet as a powerful information and sales channel, including for individually differentiated goods. A Web site can list products and services, history, business philosophy, job opportunities, and other information of interest to consumers worldwide. Solo Cup marketers note that linking their storefronts to their Web site and Facebook page makes it easier for consumers to buy Solo paper cups and plates while engaging with the brand online.44 Thanks to advances in factory customization, computer technology, and database marketing software, companies can allow customers to buy M&M candies with their names on them, Wheaties boxes or Jones soda cans with their picture on the front, and Heinz ketchup bottles with customized messages.
• Companies can collect fuller and richer information about markets, customers, prospects, and competitors.
Marketers can conduct fresh marketing research by using the Internet to arrange focus groups, send
out questionnaires, and gather primary data in several other ways. They can assemble information
about individual customers’ purchases, preferences, demographics, and profitability. The drugstore
chain CVS uses loyalty-card data to better understand what consumers purchase, the frequency of store
visits, and other buying preferences. Its ExtraCare program supports 69 million shoppers in more than
7,300 stores. Eighty-two percent of CVS’s front store (non-pharmacy) sales go through the ExtraCare
program.
Companies can reach consumers quickly and efficiently via social media and mobile marketing, sending targeted ads, coupons, and information. GPS technology can pinpoint consumers’ exact location, letting marketers send them messages at the mall with wish-list reminders and coupons or offers good only that day. Locationbased advertising is attractive because it reaches consumers closer to the point of sale. Social media and buzz are also powerful. Over a two-year period, Dell took in more than $2 million in U.S. revenue from coupons provided through Twitter and another $1 million from people who started at Twitter and bought a new computer on Dell’s Web site. By mid-2012, the @DellOutlet Twitter account had more than 1.6 million followers.47 Word-of-mouth marketing agency BzzAgent recruited 600,000 consumers who voluntarily join promotional programs for products and services they deem worth talking about.
Companies can improve purchasing, recruiting, training, and internal and external communications.
Firms can recruit new employees online, and many have Internet training products for their employees,
dealers, and agents. Blogging has waned as companies embrace social media. “We want to be where our
customers are,” said Bank of America after dropping its blog in favor of Facebook and Twitter.48 Farmers
Insurance uses specialized software to help its 15,000 agents nationwide maintain their own Facebook
pages. Via intranets and databases, employees can query one another, seek advice, and exchange information. Seeking a single online employee portal that transcended business units, General Motors launched a platform called mySocrates in 2006 to carry announcements, news, links, and historical information. GM credits the portal with $17.4 million in cost savings to date.50 Popular hybrid Twitter/Facebook-type products designed especially for business employees have been introduced by Salesforce.com, IBM, and several
start-ups
Companies can improve their cost efficiency. Corporate buyers can achieve substantial savings
by using the Internet to compare sellers’ prices and purchase materials at auction or by posting their own terms in reverse auctions. Companies can improve logistics and operations to reap substantial cost savings while improving accuracy and service quality. Small businesses can especially unleash the power of the Internet. Physicians operating a small practice can use Facebook-like services such as Doximity to connect with referring physicians and specialists.
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